2 Bed Flat, Public Notice, Croydon, CR0 6XG, £240,000

Outram Road, Croydon, CR0 6XG - 2 views - 8 months ago

Leasehold

Cash

ROI: 5%

~58 m²

+5 photos

ValuationUndervalued

Sold Prices	£200K - £660K
Sold Prices/m²	£2.5K/m² - £12.2K/m²

Square Metres	~57.70 m²
Price/m²	£4.2K/m²
Value Estimate	£247,200£247,200
BMV	3%

End Value (After Refurb)	£267,464£267,464
Uplift in Value	+11%+11%

Investment Opportunity

Cash In
Purchase Finance	Bridging LoanBridging Loan
Deposit (25%)	£60,000£60,000
Stamp Duty & Legal Fees	£8,400£8,400
Refurb Costs	£30,497£30,497
Bridging Loan Interest	£6,300£6,300
Total Cash In	£106,947£106,947

Cash Out
Monetisation	FlipRefinance & RentRefinance & Rent
Revaluation	£267,464£267,464
Mortgage (After Refinance)	£200,598£200,598
Mortgage LTV	75%75%
Cash Released	£20,598£20,598
Cash Left In	£86,350£86,350
Equity	£66,866£66,866
Rent Range	£1,250 - £2,300£1,250 - £2,300
Rent Estimate	£1,584
Running Costs/mo	£1,173£1,173
Cashflow/mo	£411£411
Cashflow/yr	£4,937£4,937
ROI	5%5%
Gross Yield	8%8%

Local Sold Prices

41 sold prices from £200K to £660K, average is £294K. £2.5K/m² to £12.2K/m², average is £4.7K/m².

Price	Date	Distance	Address	Price/m²	m²	Beds	Type
£260K	06/21	0 mi	53d, Outram Road, Croydon, Greater London CR0 6XG	£3,768	69	2	Flat
£282.5K	06/23	0.09 mi	45a, Havelock Road, Croydon, Greater London CR0 6QQ	£4,484	63	2	Flat
£660K	06/21	0.14 mi	65, Addiscombe Road, Croydon, Greater London CR0 6SD	£3,741	176	2	Flat
£248K	04/21	0.22 mi	50c, Canning Road, Croydon, Greater London CR0 6QF	£3,815	65	2	Flat
£300K	04/23	0.28 mi	63, Fisher Close, Croydon, Greater London CR0 6QY	£2,500	120	2	Flat
£275K	11/21	0.35 mi	43, East India Way, Croydon, Greater London CR0 6NZ	£4,167	66	2	Flat
£335K	10/21	0.38 mi	12, Fleetwood Close, Croydon, Greater London CR0 5HD	£4,926	68	2	Flat
£287K	08/21	0.38 mi	32, Fleetwood Close, Croydon, Greater London CR0 5HD	£4,159	69	2	Flat
£375K	02/23	0.38 mi	35, Bardsley Close, Croydon, Greater London CR0 5PS	£5,137	73	2	Flat
£299.5K	10/21	0.39 mi	17, Leyburn Gardens, Croydon, Greater London CR0 5NL	-	-	2	Flat
£343K	09/21	0.4 mi	12, Coverdale Gardens, Croydon, Greater London CR0 5LS	-	-	2	Flat
£318K	11/20	0.4 mi	17, Coverdale Gardens, Croydon, Greater London CR0 5LS	£4,892	65	2	Flat
£340K	02/21	0.42 mi	25, Green Acres, Croydon, Greater London CR0 5UW	£4,359	78	2	Flat
£329.2K	06/21	0.42 mi	35a, Chisholm Road, Croydon, Greater London CR0 6UQ	£4,913	67	2	Flat
£367.5K	09/21	0.43 mi	36, Green Acres, Croydon, Greater London CR0 5UW	£4,482	82	2	Flat
£320K	12/20	0.43 mi	93, Turnpike Link, Croydon, Greater London CR0 5NU	£4,324	74	2	Flat
£257K	08/21	0.46 mi	33, Burnham Gardens, Croydon, Greater London CR0 6NP	£5,039	51	2	Flat
£266K	02/23	0.46 mi	30, Burnham Gardens, Croydon, Greater London CR0 6NP	£5,542	48	2	Flat
£327K	12/20	0.46 mi	44, Green Acres, Croydon, Greater London CR0 5UX	£4,360	75	2	Flat
£265K	01/23	0.46 mi	42, Burnham Gardens, Croydon, Greater London CR0 6NP	£5,000	53	2	Flat
£334K	07/23	0.49 mi	44a, Oval Road, Croydon, Greater London CR0 6BJ	£4,010	83	2	Flat
£255K	07/23	0.5 mi	54, Chichester Road, Croydon, Greater London CR0 5NB	£4,397	58	2	Flat
£375K	03/21	0.55 mi	44, Granville Close, Croydon, Greater London CR0 5PX	£5,282	71	2	Flat
£326K	09/21	0.56 mi	6, Garrick Crescent, Croydon, Greater London CR0 5PW	£4,151	79	2	Flat
£337.5K	12/20	0.59 mi	74, Dartnell Road, Croydon, Greater London CR0 6JA	£6,136	55	2	Flat
£292.5K	02/23	0.6 mi	89, Granville Close, Croydon, Greater London CR0 5PY	-	-	2	Flat
£352K	06/21	0.61 mi	8a, Vincent Road, Croydon, Greater London CR0 6ED	£5,432	65	2	Flat
£262K	03/21	0.75 mi	18, Brampton Road, Croydon, Greater London CR0 6JN	£5,574	47	2	Flat
£259.5K	01/21	0.75 mi	32, Brampton Road, Croydon, Greater London CR0 6JN	£4,325	60	2	Flat
£260K	02/21	0.79 mi	58, Woodside Green, London, Greater London SE25 5EU	£3,848	68	2	Flat
£270K	08/23	0.82 mi	60, Manning Gardens, Croydon, Greater London CR0 7DU	£4,737	57	2	Flat
£265K	11/20	0.82 mi	39, Manning Gardens, Croydon, Greater London CR0 7DU	£4,015	66	2	Flat
£280K	02/21	0.82 mi	66, Manning Gardens, Croydon, Greater London CR0 7DU	£3,660	77	2	Flat
£200K	06/21	0.87 mi	7, Coe Avenue, London, Greater London SE25 5HN	£5,882	34	2	Flat
£245K	12/21	0.88 mi	15, Hardcastle Close, Croydon, Greater London CR0 6XQ	-	-	2	Flat
£310K	05/23	0.91 mi	82, Campden Road, South Croydon, Greater London CR2 7EP	£5,254	59	2	Flat
£285K	12/20	0.91 mi	88, Campden Road, South Croydon, Greater London CR2 7EP	£4,831	59	2	Flat
£355K	12/22	0.91 mi	56, Campden Road, South Croydon, Greater London CR2 7EP	£6,827	52	2	Flat
£332.5K	06/23	0.91 mi	70, Campden Road, South Croydon, Greater London CR2 7EP	£5,434	61	2	Flat
£294K	03/23	0.99 mi	31a, Clarence Road, Croydon, Greater London CR0 2EN	£4,900	60	2	Flat
£243K	02/23	0.99 mi	Flat 4, Southdown Court, Birdhurst Road, South Croydon, Greater London CR2 7EA	£12,150	20	2	Flat

Local Rents

51 rents from £1.3K/mo to £2.3K/mo, average is £1.6K/mo.

Rent	Date	Distance	Address	Beds	Type
£1,500	12/24	0 mi	Outram Road, CR0	2	Flat
£1,600	12/24	0.01 mi	Outram Road, Croydon, CR0	2	Flat
£2,300	04/25	0.02 mi	-	2	Flat
£2,300	03/25	0.02 mi	-	2	Flat
£1,595	02/24	0.05 mi	-	2	Flat
£1,595	02/24	0.05 mi	-	2	Flat
£1,400	12/24	0.07 mi	College Court	2	Flat
£1,450	12/24	0.07 mi	Addiscombe Road, Croydon, CR0	2	Flat
£1,400	12/24	0.07 mi	Ashburton Road, Addiscombe	2	Flat
£1,500	12/24	0.09 mi	Addiscombe Road, Croydon	2	Flat
£1,325	12/24	0.09 mi	Havelock Road, Croydon, CR0	2	Flat
£1,550	12/24	0.09 mi	Cecil Court, Addiscombe Road, Croydon, CR0	2	Flat
£1,600	12/24	0.09 mi	Addiscombe Road, Croydon, CR0	2	Detached House
£1,777	12/24	0.1 mi	-	2	Flat
£1,530	02/25	0.13 mi	-	2	Flat
£1,400	04/25	0.13 mi	-	2	Flat
£1,600	12/24	0.13 mi	Elgin Road, Croydon, CR0	2	Flat
£1,395	12/24	0.14 mi	Lynden Hyrst, East Croydon	2	Flat
£1,600	12/24	0.14 mi	Lynden Hyrst, Addiscombe Road	2	Flat
£1,550	12/24	0.14 mi	St. Davids Court, 100 Outram Road, Croydon, CR0	2	Flat
£1,550	12/24	0.14 mi	2 Bedroom Flat To Let in Croydon	2	Flat
£1,550	02/25	0.15 mi	-	2	Flat
£1,550	02/25	0.15 mi	-	2	Flat
£1,550	02/25	0.15 mi	-	2	Flat
£1,550	02/25	0.15 mi	-	2	Flat
£1,550	02/25	0.15 mi	-	2	Flat
£1,550	02/25	0.15 mi	-	2	Flat
£1,550	03/25	0.15 mi	-	2	Flat
£1,600	02/25	0.15 mi	-	2	Flat
£1,550	12/24	0.15 mi	Ashburton Road, Croydon, Surrey, CR0	2	Flat
£1,650	02/25	0.16 mi	-	2	Flat
£1,850	02/25	0.16 mi	-	2	Flat
£1,700	02/24	0.16 mi	-	2	Flat
£1,600	12/24	0.16 mi	Addiscombe Road, Croydon, CR0	2	Flat
£2,100	03/25	0.16 mi	-	2	Flat
£1,250	02/25	0.18 mi	-	2	Flat
£1,550	12/24	0.18 mi	Lower Addiscombe Road, Addiscombe, CR0	2	Flat
£1,850	01/25	0.19 mi	-	2	Flat
£1,700	03/25	0.2 mi	-	2	Flat
£1,850	12/24	0.2 mi	Radcliffe Road, East Croydon	2	Flat
£1,600	12/24	0.21 mi	Hamilton Court, 66 Ashburton Road, Croydon, CR0	2	Flat
£1,400	12/24	0.22 mi	135 Addiscombe Road, Croydon, CR0 6SJ	2	Flat
£1,500	02/25	0.23 mi	-	2	Flat
£1,400	02/25	0.23 mi	-	2	Flat
£1,295	02/25	0.23 mi	-	2	Flat
£1,600	12/24	0.24 mi	Bishops Court, Croydon Croydon CR0	2	Flat
£1,500	12/24	0.24 mi	Sullivan Court, Croydon, Surrey, CR0	2	Flat
£1,600	12/24	0.25 mi	Princess Court, Canning Road, Croydon, CR0	2	Flat
£1,500	12/24	0.26 mi	Lower Addiscombe Road, Croydon, Surrey, CR0	2	Flat
£1,600	03/25	0.26 mi	-	2	Flat
£1,500	12/24	0.27 mi	Addiscombe Road, Croydon, CR0	2	Flat

Local Area Statistics

Population in CR0	153,803153,803
Population in Croydon	153,811153,811
Town centre distance	0.51 miles away0.51 miles away
Nearest school	0.50 miles away0.50 miles away
Nearest train station	0.10 miles away0.10 miles away

Rental demand	Landlord's marketLandlord's market
Rental growth (12m)	+10%+10%
Sales demand	Balanced marketBalanced market
Capital growth (5yrs)	+6%+6%

Property History

Price changed to £240,000

December 10, 2024

Listed for £260,000

August 19, 2024

Floor Plans

Description

CASH BUYERS ONLY

In need of refurbishment this is a first floor two-bedroom flat. Situated at the heart of a small residential development this property is in need to some TLC. Measuring over 600 SQ FT there is an entrance hall, large lounge, adjacent kitchen area with an attached balcony overlooking the communal garden, two double bedrooms and a family bathroom. The property also benefits from ample storage through-out and a residential parking, with no onward chain.

PUBLIC NOTICE
Flat 5, 11 Outram Road, Croydon, CR0 6XG.
We are acting in the sale of the above property and have received an offer of £220,000
Any interested parties must submit any higher offers in writing to the selling agent before an exchange of contracts takes place
EPC Rating: D

Agent Details

Bairstow Eves, Croydon

020 3835 3594

Next Steps?

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